Core Viewpoint - The company reported a decline in both revenue and net profit for the first three quarters of 2025 compared to the previous year [1] Financial Performance - The total operating revenue for the first three quarters of 2025 was 1.638 billion yuan, representing a year-on-year decrease of 8.58% [1] - The net profit attributable to shareholders of the parent company was 135 million yuan, down 5.84% year-on-year [1] - The basic earnings per share were 0.32 yuan [1]

证券代码：603823 证券简称：百合花 公告编号：2025-038 本议案已经董事会审计委员会审议通过。 表决结果：同意9票，反对0票，弃权0票。 特此公告。 百合花集团股份有限公司董事会 2025年10月29日 百合花集团股份有限公司 第五届董事会第七次会议决议公告 本公司董事会及全体董事保证本公告内容不存在任何虚假记载、误导性陈述 或者重大遗漏，并对其内容的真实性、准确性和完整性承担个别及连带责任。 百合花集团股份有限公司第五届董事会第七次会议于 2025 年 10 月 28 日 在公司会议室以现场结合通讯方式召开，会议通知于 2025 年 10 月 17 日以书面、 电子邮件、电话等方式发出。会议应到董事 9 名，实到董事 9 名。本次会议的 召开符合《中华人民共和国公司法》和《百合花集团股份有限公司章程》的有 关规定。会议由董事长陈立荣先生主持。 出席会议的董事对本次会议的议案进行了认真审议，表决并作出如下决议： 一、审议通过了《关于 2025 年第三季度报告全文的议案》 ...

Company Overview - Baihehua (SH 603823) announced on October 28 that its fifth board meeting was held to review the proposal for the full report of the third quarter of 2025 [1] - As of the report, Baihehua's market capitalization is 6.4 billion yuan [1] Financial Performance - For the year 2024, Baihehua's revenue composition is as follows: 99.12% from chemicals and 0.88% from other businesses [1]

Financial Performance - Total revenue for Q3 2025 was ¥512,449,095.81, a decrease of 10.19% compared to the same period last year[4] - Total profit for the period was ¥48,707,404.85, down 16.97% year-on-year[4] - Net profit attributable to shareholders was ¥35,896,184.45, reflecting a decline of 17.72% compared to the previous year[4] - Basic earnings per share decreased by 27.27% to ¥0.08[5] - Total operating revenue for the first three quarters of 2025 was CNY 1,637,808,623.94, a decrease of 8.55% compared to CNY 1,791,565,169.06 in the same period of 2024[17] - Net profit for the first three quarters of 2025 was CNY 156,539,373.20, a decrease of 6.83% from CNY 167,705,960.45 in 2024[19] - Earnings per share for the first three quarters of 2025 were CNY 0.32, compared to CNY 0.35 in the same period of 2024[20] Cash Flow - Cash flow from operating activities for the year-to-date was ¥127,665,240.16, down 45.94%[5] - The net cash flow from operating activities was $127,665,240.16, a decrease of 46% compared to $236,140,438.69 in the previous period[23] - Cash inflow from financing activities totaled $66,000,000.00, down from $107,959,764.00 in the previous period[24] - Cash outflow for purchasing goods and services was $438,640,872.35, slightly lower than $451,759,161.39 in the previous period[23] - Cash paid to employees increased to $200,206,138.35 from $185,140,119.47 year-over-year[23] - Cash paid for taxes was $79,867,320.86, a decrease from $85,042,259.79 in the previous period[23] Assets and Liabilities - Total assets at the end of the period were ¥3,342,808,931.40, a decrease of 3.03% from the end of the previous year[5] - As of September 30, 2025, total current assets amount to ¥2,049,192,608.68, a decrease from ¥2,126,603,023.00 at the end of 2024[14] - Total liabilities decreased to ¥715,053,496.48 from ¥879,070,594.73[15] - Total assets amount to ¥3,342,808,931.40, down from ¥3,447,435,676.16[14] - Non-current assets total ¥1,293,616,322.72, slightly down from ¥1,320,832,653.16[14] Shareholder Information - Total number of common shareholders at the end of the reporting period is 18,843[11] - The largest shareholder, Lily Flower Holdings Limited, holds 263,941,361 shares, representing 63.39% of total shares[11] - Shareholder equity attributable to the parent company increased by 3.10% to ¥2,429,909,711.33[5] - The company's total equity reached CNY 2,627,755,434.92, up from CNY 2,568,365,081.43 in the previous year[16] Revenue and Costs - The decline in revenue was primarily due to a decrease in sales volume[9] - The company reported a decrease in profit margins across all financial indicators due to reduced sales volume[9] - Total operating costs for the first three quarters of 2025 were CNY 1,467,280,270.25, down 8.43% from CNY 1,602,256,687.91 in 2024[17] Research and Development - Research and development expenses for the first three quarters of 2025 were CNY 69,018,448.79, an increase of 12.3% from CNY 61,608,993.71 in 2024[17] Non-Recurring Items - Non-recurring gains and losses for the period totaled ¥3,813,121.13[8] - The company reported a financial income of CNY 2,531,956.98, down from CNY 4,408,697.00 in the same period of 2024[19]

2025年第三季度主要经营数据公告 本公司董事会及全体董事保证本公告内容不存在任何虚假记载、误导性陈述 或者重大遗漏，并对其内容的真实性、准确性和完整性承担个别及连带责任。 根据上海证券交易所《上市公司行业信息披露指引第十八号——化工》的要 求，百合花集团股份有限公司（以下简称"公司"）现将 2025 年第三季度主要经 营数据披露如下： 二、主要产品的价格变动情况（不含税） 证券代码：603823 证券简称：百合花 公告编号：2025-040 百合花集团股份有限公司 特此公告。 百合花集团股份有限公司董事会 2025年10月29日 | 主要产品 | 2025年1至 9月平均进价 （元/吨） | 2024 年1至9月平均 进价（元/吨） | 变动比率 （%） | | --- | --- | --- | --- | | 2.3 酸 | 16,645.74 | 16,989.28 | -2.02% | | 3,3 双氯联苯胺 | 15,342.20 | 14,834.38 | 3.42% | | 4B酸 | 10,688.30 | 10,437.66 | 2.40% | | 乙萘酚 | 11,570.03 | 11 ...

Core Insights - The company reported a third-quarter revenue of 512 million, representing a decline of 10.19% compared to the previous year [1] - The net profit for the third quarter was 35.8962 million, down 17.72% year-over-year [1] - For the first three quarters, the total revenue was 1.638 billion, reflecting an 8.58% decrease [1] - The net profit for the first three quarters amounted to 135 million, which is a decline of 5.84% [1]

Investment Rating - The report initiates coverage with an "Accumulate" rating for the company [7]. Core Views - The company is a leading domestic organic pigment manufacturer benefiting from industry improvements driven by national environmental and safety policies, leading to increased industry concentration and recovery of profit margins [1][2]. - The company is actively expanding into the panel photoresist pigment market, which is expected to contribute significantly to growth, establishing a second growth curve [6][7]. Company Overview - The company specializes in the production and sale of organic pigments, with a comprehensive range of products covering mainstream varieties. It holds over 40,000 tons of production capacity, accounting for approximately 10% of the global market [2][13]. - The company has seen a reversal in performance in 2024, with revenue expected to grow by 5.23% after a decline due to industry competition [28]. Financial Data - The company achieved a revenue of 2.284 billion yuan in 2023, with a projected revenue of 2.499 billion yuan in 2025, reflecting a year-on-year growth of 4.0% [8][30]. - The net profit attributable to shareholders is expected to reach 208 million yuan in 2025, representing a year-on-year increase of 18.4% [7][30]. Industry Dynamics - The organic pigment industry is experiencing a shift towards higher concentration due to the exit of smaller, less efficient producers, which is improving overall industry profitability [6][50]. - The domestic market for organic pigments is expected to continue growing, with a projected production of 277,000 tons in 2024, an increase of 11.24% from 2023 [46][49]. Growth Opportunities - The company is investing in new projects, including a 10 billion yuan investment in high-performance organic pigments and supporting materials, which will enhance its production capabilities [54][22]. - The panel photoresist pigment market presents significant growth potential, with the company already achieving ton-level sales in this segment [54][55].

证券代码：603823 证券简称：百合花 公告编号：2025-037 百合花集团股份有限公司 关于召开 2025 年半年度业绩说明会的公告 本公司董事会及全体董事保证本公告内容不存在任何虚假记载、误导性陈述 或者重大遗漏，并对其内容的真实性、准确性和完整性承担法律责任。 重要内容提示： https://roadshow.sseinfo.com/） （三） 会议召开方式：上证路演中心网络互动 投资者可于 2025 年 10 月 09 日 （星期四） 至 10 月 15 日 （星 期三）16:00 前登录上证路演中心网站首页点击"提问预征集"栏目 或通过公司邮箱 csy@lilychem.com 进行提问。公司将在说明会上对 投资者普遍关注的问题进行回答。 百合花集团股份有限公司（以下简称"公司"）已于 2025 年 8 月 28 日发布公司 2025 年半年度报告，为便于广大投资者更全面深入地 了解公司 2025 年半年度经营成果、财务状况，公司计划于 2025 年 10 月 16 日（星期四）14:00-15:00 举行 2025 年半年度业绩说明会， 就投资者关心的问题进行交流。 一、 说明会类型 会议召开 ...

Group 1 - The company is rated as "Buy" for the first time [1][8] - The report highlights that the company is a leading domestic organic pigment manufacturer with a comprehensive product range covering various application fields [6][15] - The company achieved a revenue of 1.125 billion yuan in the first half of 2025, a year-on-year decrease of 7.83%, and a net profit of 100 million yuan, a decrease of 0.67% [6][28] Group 2 - The report emphasizes that the "anti-involution" policies introduced in 2025 will benefit the chemical industry by eliminating outdated production capacity, which will enhance the company's profitability [6][36] - The company is expanding into the photoresist pigment business, which is expected to open a second growth curve, with significant market potential in the LCD and semiconductor sectors [7][49] - The company plans to invest 1 billion yuan in a project to produce high-performance organic pigments and related materials, with an expected annual output value of approximately 1.7 billion yuan upon completion [7][58] Group 3 - The company forecasts net profits for 2025, 2026, and 2027 to be 207 million, 275 million, and 427 million yuan respectively, representing year-on-year growth rates of 17.64%, 32.96%, and 55.04% [8][60] - The projected revenue for 2025, 2026, and 2027 is 25.20 billion, 27.13 billion, and 30.92 billion yuan, with corresponding year-on-year growth rates of 4.86%, 7.67%, and 13.96% [8][61] - The company maintains a competitive edge with a gross margin of 21.34% in 2025, which is expected to increase to 25.85% by 2027 [33][61]

Group 1 - The chemical products sector increased by 0.35% on September 24, with United Chemical leading the gains [1] - The Shanghai Composite Index closed at 3853.64, up 0.83%, while the Shenzhen Component Index closed at 13356.14, up 1.8% [1] - Key stocks in the chemical products sector showed significant price increases, with United Chemical rising by 20.00% to a closing price of 104.40 [1] Group 2 - The main capital flow in the chemical products sector showed a net inflow of 416 million yuan, while retail investors contributed a net inflow of 335 million yuan [1] - The table of individual stock performance indicates that several companies, including Huasoft Technology and Baihehua, experienced notable gains of over 10% [1]